POFFblog #3: Living Below Your Means

Discover why living below your means is so important and what ye can do about it.


Ahoy me hearties!  The book I be readin’ said one of the most important rules is to live below your means.  I be thinkin’ that sounds as much fun as pokin’ a hook in me eye, aye?  But then I be readin’ further and it be saying that livin’ below your means don’t mean ye can’t own luxurious things.  And that be good because I be wantin’ to live a life of luxury someday me matey!

I be picturin’ it now, travelin’ the world to the best taverns, me with me cuttin’ edge fashion and gold access-arrr-ies, surrounded by the most buxom of wenches.  Aye, that be the day.  But alas, there be no wenches in me life right now.  Probably because I be havin’ no treasure. But that will change, aye.  And I won’t be spendin’ beyond me means to get those luxuries today.

As the book be sayin’, the difference be that the wealthy wait until they can afford their luxury items and pay cash, whereas those non-wealthy lundlubbers be buyin’ things they can’t afford with high-interest credit cards.  Aye, some landlubbers spend treasure they don’t be havin’ on things they don’t be needin’ to impress landlubbers they don’t be likin’.  What kind of swabby thinking be that!   What be even sadder though, is that some landlubbers spend their treasure and go into debt to buy things that don’t even be makin’ them happy.  I hope none of ye be doing that.  If ye be spending treasure, ye better be gettin’ some long-term happiness out of that purchase, aye?

So, do ye be livin’ below yer means?  Do ye even know?  Add up how much ye be spenin’ last month and how much ye be earnin’ after taxes.  If ye spent more than ye earned, ye be living above your means.  And if ye be livin’ above yer means, that means ye be a kraken-smelling, black-toothed son of a biscuit eater.  And that be a bad thing.

Now some finance lads be sayin’ the first step is to put together a budget, but I be sayin’ the first step is to just keep track of what ye be spending now so ye know where ye currently be.  Then ye can map out how to be gettin’ where ye want to go.  Just like a treasure map, ha har.  So write down yer spending for the next month and make sure ye be livin’ below yer means.  Otherwise you’ll soon be vistin’ the financial Davy Jones!